- Classover announces it entered into a $500 million securities purchase agreement with Solana Growth Ventures.
- Classover plans to build a Solana-based treasury reserve, with up to 80% of net proceeds earmarked for purchasing Solana.
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Classover Holdings, Inc. KIDZ stock is trading higher on Monday after the company announced it entered into a securities purchase agreement with Solana Growth Ventures for the issuance of up to $500 million in senior secured convertible notes.
What To Know: The deal supports Classover's plan to build a Solana SOL/USD-based treasury reserve, with up to 80% of net proceeds earmarked for purchasing Solana.
The agreement follows a previously announced $400 million equity purchase agreement, bringing the company’s total potential financing capacity to $900 million. The funds are dedicated to supporting its Solana acquisition strategy.
Classover has already begun executing this initiative, having acquired 6,472 Solana for approximately $1.05 million.
Hui Luo, CEO of Classover Holdings, stated, “This agreement marks a significant milestone in the Company’s strategic initiative to build a SOL-based treasury reserve. By entering into this agreement, Classover reaffirms its strong commitment to becoming a leader in blockchain-aligned financial strategy and positioning itself among the first publicly traded companies to directly integrate SOL into its treasury operations.”
KIDZ Price Action: Classover stock is trading 37.59% higher at $3.66 on Monday at publication, according to data from Benzinga Pro.
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